Priscilla Lu: Good afternoon ladies and gentlemen; greetings to everyone in the other time zones. Welcome to ZAP’s 1Q2011 Earnings Call. We plan to be doing these quarterly earnings calls on a regular basis from now on.

I am Dr. Priscilla Lu, the Chairman of ZAP. With me are Steve Schneider, Co-CEO of ZAP Jonway, Alex Wang, Co-CEO of ZAP Jonway for the Jonway Automobile manufacturing and sales in China, and Benjamin Zhu, our CFO for ZAP Jonway. I will start with the Safe Harbor Statement, Forward-Looking Statement that we will proceed to read.

KQED Radio’s Rachael Myrow visited ZAP in December for a series they are doing as part of their California Report, called “Shifting Gears.” She interviewed ZAP’s founder Gary Starr as well as ZAP Chairwoman Dr. Priscilla Lu in a piece called “California: EV Designer for the World.” The two ZAP executives offered incite into ZAP’s plans in China, including plans for acquiring Zhejiang Jonway Automobile Co. Ltd., which was announced yesterday. Tune into the podcast and view the slide show on KQED’s website.

“This vehicle is very fast at acceleration. It was one of the fastest vehicles at the entire race,” said Starr. “Yet it’s very comfortable and quiet because it’s all electric.”

The teams included emerging startups, entrepreneurs and universities from around the world.

Starr said the competition is now in the final technical testing stage.

“There’s a validation process that includes going into various testing grounds,” he said. “Then they’re going to announce the final winners in September in Washington D.C.”

Starr said they have already proven they have a pretty interesting car that’s ready for the marketplace and in September, if the Alias wins the competition, he said it would just be the icing on the cake.